That's Page as in Larry Page, of Google. His law is the inverse of the Moore's Law: Software gets twice as slow every 18 months.
That's why no matter how insanely fast hardware gets, your stuff never really feels any faster—it's just matching the software slide. Of course, the reason Sergey's explaining it is to explain how Google's code is going to break "Page's Law" and get more efficient and faster over time. Given where Google wants to be—on everything—let's hope so. [Gawker]